The annual dividend on the common stock of the corporation was raised to
$.68 per share from $.60 per share.

A quarterly dividend on the common stock was also authorized by the
Board of Directors at seventeen cents (17¢) a share. The quarterly
dividend will be paid Feb. 15, 2013, to stockholders of record at the
close of business on Jan. 21, 2013.

The Feb. 15 payment will be the 338th consecutive quarterly dividend
paid by the company. Since becoming a public company in 1928, Hormel
Foods Corporation has paid a regular quarterly dividend without
interruption.

About Hormel FoodsHormel Foods Corporation, based in
Austin, Minn., is a multinational manufacturer and marketer of
consumer-branded food and meat products, many of which are among the
best known and trusted in the food industry. The company leverages its
extensive expertise, innovation and high competencies in pork and turkey
processing and marketing to bring branded, value-added products to the
global marketplace. The company is a member of the Standard & Poor's
(S&P) 500 Index, S&P Dividend Aristocrats for 2012, Maplecroft Climate
Innovation Indexes, Global 1000 Sustainable Performance Leaders and was
again named one of "The 100 Best Corporate Citizens” by Corporate
Responsibility Magazine for the fourth year in a row. Hormel Foods
debuted on the G.I. Jobs magazine list of America’s Top 100 Military
Friendly Employers in 2012. The company enjoys a strong reputation among
consumers, retail grocers, foodservice and industrial customers for
products highly regarded for quality, taste, nutrition, convenience and
value. For more information, visit http://www.hormelfoods.com.